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> the only way to become a billionaire is by exploiting people I don't if it is the only way to become a billionaire. But the bigger problem is every billionai
by namelosw 6y ago
> the only way to become a billionaire is by exploiting people
I don't if it is the only way to become a billionaire. But the bigger problem is every billionaire is exploiting people.
Imagine you are one of the wealthiest guys in the world. You can either:
- Hire the best financial guys to take care of your equities (although they are the best they look cheap to you).
- Hold a share of the equity of every business you can find in the world.
Either way, if the world is growing, you earn money by lying on the bed all day long. And then you can use the money exchange a large amount of people's labor for your own pleasure, instead of building costly infrastructures for your country for very small returns.
Even if the world is going through a recession, other people would more desperate than you - you would lose part of your money, but people's life would crash, small companies would go broke, most of the entities have to do sub-optimal choices, and you don't have to. Then you can do the purchase and hold even more equities of the world.
In a word, holding extreme large number of equities is exploiting people because they can barely do nothing and enjoy people's labor without any risks.